Shown Here:Introduced in Senate (11/10/1999)

Consumer's Right to Financial Privacy Act - Amends the Gramm-Leach-Bliley Act to revamp financial institution obligations regarding disclosures of personal information sharing. Prohibits such institutions from either disclosing, or making unrelated use, of nonpublic personal information collected in a consumer transaction unless the institution has notified the consumer in accordance with prescribed regulations. (Currently such disclosure or unrelated use is permitted with institutional affiliates without prior notice to consumers.) Requires the consumer's affirmative consent (opt-in) to any such information sharing between a financial institution, its affiliates, or any other person that is neither an employee or agent of such institution. (Current law permits nonpublic personal consumer information sharing by a financial institution with nonaffiliated third parties for marketing and other purposes, unless the consumer opts out in writing.)

Mandates that designated regulatory agencies promulgate regulations that: (1) require affirmative consumer consent as a prerequisite to any information sharing by a financial institution; (2) prohibit a financial institution from denying a product or service to a consumer who has denied consent to such information transfer; and (3) require consumer access and opportunity to dispute nonpublic personal information made available by the institution to persons other than its own personnel.

Prohibits a financial institution from disclosing a consumer's access number or code to both an affiliated or nonaffiliated third party for use in telemarketing, direct mail marketing, or other marketing through electronic mail to the consumer. (Current law permits such disclosure to affiliates).

Restricts nonpublic personal information received from a financial institution by an affiliate or nonaffiliated third party from being further disclosed to another affiliate or nonaffiliated third party of both the financial institution and such recipient.

Requires designated regulatory agencies to promulgate proscriptions against unfair and deceptive practices in connection with either the disclosure of nonpublic personal information, or with making unrelated uses of that information. Prescribes regulation contents, including a requirement that a financial institution disclose to the consumer: (1) the categories of nonpublic personal information the institution collects; and (2) its practices and policies with respect to disclosing or making unrelated uses of it.

Authorizes the States to enjoin violations of this Act.

Amends the Fair Credit Reporting Act to direct the Federal Trade Commission (FTC) to prescribe implementing regulations with respect to this Act. Authorizes the Secretary of the Treasury to promulgate procedural guidelines governing State election to participate in the enforcement of this Act.

Provides that protection under State law that is greater than the protection accorded under this Act (as determined by either the FTC or a Federal functional regulator) shall not be deemed inconsistent with this Act.

Repeals the exemption granting permission to State-licensed private investigators acting under court authorization to obtain customer information of a financial institution for purposes of collecting child support from a person adjudged delinquent.

Confers enforcement authority upon the States with respect to violations pertaining to fraudulent access to financial information under this Act.